dow chemical co/the (DOW) Key Developments
The Dow Chemical Company - Special Call
Dec 2 13
To discuss Carve-Out Scope for $5 Billion of Commodity Chemicals Businesses
Dow Chemical Details Plans For Divesting Major Assets Including Those In Houston
Dec 2 13
The Dow Chemical Company (NYSE:DOW) disclosed its plans to divest about $5 billion in assets in the next one to two years, including major assets at its massive Freeport chemical manufacturing complex.
Dow Chemical Plans To Sell 40 Plants
Dec 2 13
The Dow Chemical Company Limited (NYSE:DOW) is planning to spin off or sell about 40 manufacturing plants from its business. The deals are expected to happen within the next one or two years. Andrew Liveris, Chairman and Chief Executive Officer of Dow Chemical, said, “Separating these business units will allow us to further optimize the way they can be operated; and we believe different owners will be able to extract maximum value from these highly competitive assets and their related markets.”
The Dow Chemical Company and Rohm and Haas Company Announces Early Results of Debt Tender Offers
Nov 14 13
The Dow Chemical Company announced the early results for its previously announced cash tender offers for certain notes issued by Dow and its subsidiary Rohm and Haas Company. In addition, the company announced it raised the tender cap, such that the aggregate principal amount sought in the tender offers is $700 million, versus the $500 million that was initially sought. As of 5:00 p.m., New York City time, on November 13, 2013 (the 'early tender time), Dow received tenders for approximately (i) $581 million aggregate principal amount of the 6.00% notes due 2017 issued by Rohm and Haas listed below, and (ii) $402 million aggregate principal amount of the 5.70% notes due 2018 issued by Dow listed below. The amount of tendered notes exceeds the previously announced tender cap of $500 million. Based on the revised $700 million tender cap and the proration terms of the tender offers, Dow accepted for purchase $414 million and $286 million aggregate principal amount of the 6.00% notes due 2017 and the 5.70% notes due 2018, respectively, validly tendered at or prior to the early tender time, resulting in aggregate consideration of $816 million (plus an additional $4.5 million in aggregate accrued interest). The notes that have been validly tendered at or prior to the early tender time and accepted in the tender offers will be purchased, retired and cancelled by the relevant issuer on the early settlement date, which is expected to occur on November 18, 2013. Dow also announced that it raised the tender cap from $500 million to $700 million. The expiration time of the tender offers is 12:00 midnight, New York City time, on November 27, 2013, unless extended. Because the amount of notes tendered at or prior to the early tender time exceeded the tender cap, Dow does not expect to accept for purchase any additional notes in the tender offers. Withdrawal rights for the tender offers have expired and have not been extended. Dow has retained BNP PARIBAS and BofA Merrill Lynch as Dealer Managers for the tender offers. Global Bondholder Services Corporation is the Information Agent and Depositary for the tender offers.
The Dow Chemical Company Presents at Citi's 6th Annual Basic Materials Conference, Dec-03-2013 09:30 AM
Nov 11 13
The Dow Chemical Company Presents at Citi's 6th Annual Basic Materials Conference, Dec-03-2013 09:30 AM. Venue: New York, New York, United States. Speakers: James R. Fitterling, Executive Vice President of Feedstocks, Performance Plastics, Asia and Latin America Operations.